Page 1 of 16 U.S. Direct Investment Abroad: Operations of U.S. Parent Companies and Their Foreign Affiliates Revised 1992 Estimates This publication presents preliminary estimates covering the financial structure and operations of nonbank U.S. multinational companies (MNC's) and their nonbank foreign affiliates for fiscal year 1992. These estimates supplement those in "U.S. Multinational Companies: Operations in 1993" in the June 1994 Survey of Current Business. That article presents estimates of key items for 1992 and 1993 and highlights major developments in 1993. The estimates in this publication cover the universe of nonbank U.S. parent companies and their nonbank foreign affiliates. They were derived by combining sample data reported in the Annual Survey of U.S. Direct Investment Abroad, 1992, conducted by the Bureau of Economic Analysis (BEA), with BEA estimates of data for parents and affiliates not in the sample. Estimates for nonsample parents and affiliates that existed in prior years were derived by extrapolating forward the data reported for them in BEA's 1989 benchmark survey of U.S. direct investment abroad. The concepts and definitions underlying the estimates in this publication are the same as those used for BEA's 1989 benchmark survey. These concepts and definitions are described in the benchmark survey publication, U.S. Direct Investment Abroad: 1989 Benchmark Survey, Final Results, which was published in October 1992. Publications presenting estimates comparable to the 1992 estimates in this publication are available for 1977 and for 1982-91. The estimates for 1982-92 are also available in computer-readable formats (tape or diskette). Ordering information for publications and computer media is given at the back of this volume. Because the estimates for 1977, 1982, and 1989 are based on benchmark surveys--which are more comprehensive in scope than annual surveys--publications for those years contain measures of MNC operations that are not available for other years. Types of data that are collected only in benchmark surveys include hourly compensation of production workers of foreign affiliates in manufacturing, U.S. merchandise trade of MNC's by product, and the number of U.S. citizens employed by foreign affiliates. Table 1 lists the tables in this publication and gives the numbers of comparable tables in the annual survey publications for 1983-88 and in the 1989 benchmark survey publication. To aid comparison between the 1989 benchmark survey data and the annual survey estimates for subsequent years, the table numbers in the annual survey publications for 1990 forward, including those in this publication, are identical to the ones used for the comparable table in the final 1989 benchmark survey publication. Thus, tables prefixed with Roman numeral II present estimates for nonbank foreign affiliates and their nonbank U.S. parents, and tables prefixed with Roman numeral III present estimates for majority-owned nonbank foreign affiliates of nonbank U.S. parents. (Unlike the 1989 benchmark survey publication, Roman numeral I is not used to number tables in this publication because it designates tables covering all foreign affiliates and their U.S. parents, including bank parents and affiliates, which are not covered by this publication.) Page 2 of 16 In some cases, BEA may make special tabulations or perform regressions or other statistical analyses of annual servey data at cost, within limits of available resources and subject to the legal requirements to avoid disclosure of data of individual companies. However, because of the high degree of detail in which BEA's data are regularly produced and because of concerns about confidentiality, data quality, and consistency of presentation, the Bureau has adopted a policy of generally limiting tabulations to those regularly produced. Data users requiring special tabulations should submit their requests, including a justification of need, in writing, and BEA will consider each request on a case-by-case basis. Requests should be directed to: International Investment Division (BE-50), Data Retrieval and Analysis Branch, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230. For other assistance, contact Ray Mataloni, International Investment Division (BE-50), Research Branch, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230, or call (202) 606-9867 or send E-mail to raymond.mataloni@bea.doc.gov. Page 3 of 16 Table 1.--Comparison of Tables in This Publication and in the 1989 Benchmark Survey Publication with Those in Publications for 1983-88 Table in this publication Comparable table Comparable table and in the 1989 benchmark in 1983-88 in this diskette survey publication publication Nonbank Foreign Affiliates of Nonbank U.S. Parents Group A. Selected Data II.A1 ................................ 1 .................. 1 II.A2 ................................ 2 .................. 2 Group B. Balance Sheet II.B5 ................................ 3 .................. 3 II.B6 ................................ 4 .................. 4 II.B15 ............................... 5 .................. 5 Group E. Income Statement II.E3 ................................ 6 .................. 6 II.E4 ................................ 7 .................. 7 II.E6 ................................ 8 .................. 8 II.E7 ................................ 9 .................. 9 II.E9 ................................ 10 ................. 10 Group G. Employment and Employee Compensation II.G3 ................................ 11 ................. 11 II.G4 ................................ 12 ................. 12 II.G6 ................................ 13 ................. 13 II.G7 ................................ 14 ................. 14 II.G11 ............................... 15 ................. 15 Group H. U.S. Merchandise Trade II.H5 ................................ 16 ................. 16 II.H6 ................................ 17 ................. 17 II.H22 ............................... 18 ................. 18 II.H23 ............................... 19 ................. 19 Nonbank U.S. Parents Group K. Selected Data II.K1 ................................ 54 ................. 67 Group O. Sales II.O1 ................................ 55 ................. 68 II.O2 ................................ 56 ................. 69 Page 4 of 16 Group Q. U.S. Merchandise Trade II.Q1 ................................ 57 ................. 70 II.Q4 ................................ 58 ................. 71 Majority-Owned Nonbank Foreign Affiliates of Nonbank U.S. Parents Group A. Selected Data III.A1 .................................................... 20a-b III.A2 .................................................... 21a-b Group B. Balance Sheet III.B1-2 ............................. 20 ................. 22 III.B3-4 ............................. 21 ................. 23 III.B5 ............................... 22 ................. 24 III.B6 ............................... 23 ................. 25 III.B7 ............................... 24 ................. 26 III.B13-14 ........................... 25 ................. 27 III.B15 ................................................... 28 Group C. External Financial Position III.C1 ............................... 26 ................. 29 Group E. Income Statement III.E1 ............................... 27 ................. 30 III.E2 ............................... 28 ................. 31 III.E3 ............................... 29 ................. 32 III.E4 ............................... 30 ................. 33 III.E5 .................................................... 34 III.E6 ............................... 31 ................. 35 III.E7 ............................... 32 ................. 36 III.E8 ............................... 33 ................. 37 III.E9 .................................................... 38 Group F. Sales III.F1 .................................................... 39 III.F2 ............................... 34 ................. 40 III.F3 ............................... 35 ................. 41 III.F4 ............................... 37 ................. 42 III.F7 ............................... 36 ................. 43 III.F8 ............................... 38 ................. 44 III.F9 .................................................... 45 III.F13 .............................. 39 ................. 46 III.F14 .............................. 40 ................. 47 III.F16 .............................. 43 ................. 48 III.F17 .............................. 41 ................. 49 III.F18 .............................. 42 ................. 50 III.F20 .............................. 44 ................. 51 III.F22 ................................................... 52 III.F24 .............................. 45 ................. 53 Page 5 of 16 Group G. Employment and Employee Compensation III.G3 ............................... 46 ................. 54 III.G4 ............................... 47 ................. 55 III.G6 ............................... 48 ................. 56 III.G7 ............................... 49 ................. 57 III.G11 ................................................... 58 Group H. U.S. Merchandise Trade III.H1 ............................... 50 ................. 59 III.H2 ............................... 51 ................. 60 III.H5 ............................... 52 ................. 61 III.H9 .................................................... 62 III.H22 .............................. 53 ................. 63 III.H26 ................................................... 64 Group I. Research and Development III.I2-5 .................................................. 65 III.I3 .................................................... 66 Note: Tables whose numbers are hyphenated consist of selected columns from two tables from the 1989 benchmark survey publication. For example, table III.B13-14 consists of selected columns from tables III.B13 and III.B14. Page 6 of 16 LIST OF TABLES Nonbank Foreign Affiliates of Nonbank U.S. Parents Selected Data II.A1. Selected Data for Foreign Affiliates in All Countries in Which Investment Was Reported II.A2. Selected Data for Foreign Affiliates and U.S. Parents in All Industries Balance Sheet II.B5. Total Assets of Affiliates, Country by Industry II.B6. Total Assets of Affiliates, Industry by Country II.B15. Total Assets of Affiliates, Industry of U.S. Parent by Country Income Statement II.E3. Sales by Affiliates, Country by Industry II.E4. Sales by Affiliates, Industry by Country II.E6. Net Income of Affiliates, Country by Industry II.E7. Net Income of Affiliates, Industry by Country II.E9. Sales by Affiliates, Industry of U.S. Parent by Country Employment and Employee Compensation II.G3. Employment of Affiliates, Country by Industry II.G4. Employment of Affiliates, Industry by Country II.G6. Employee Compensation of Affiliates, Country by Industry II.G7. Employee Compensation of Affiliates, Industry by Country II.G11. Employment of Affiliates, Industry of U.S. Parent by Country U.S. Merchandise Trade II.H5. U.S. Exports Shipped to Affiliates, Country of Affiliate by Industry of Affiliate II.H6. U.S. Exports Shipped to Affiliates, Industry of Affiliate by Country of Affiliate II.H22. U.S. Imports Shipped by Affiliates, Country of Affiliate by Industry of Affiliate II.H23. U.S. Imports Shipped by Affiliates, Industry of Affiliate by Country of Affiliate Nonbank U.S. Parents Selected Data II.K1. Selected Financial and Operating Data of U.S. Parents, by Industry of U.S. Parent Page 7 of 16 Sales II.O1. Sales by U.S. Parents, Industry of U.S. Parent by Type and Destination II.O2. Sales by U.S. Parents, Industry of U.S. Parent by Industry of Sales U.S. Merchandise Trade II.Q1. U.S. Exports Associated With U.S. Parents and Their Foreign Affiliates, by Industry of U.S. Parent II.Q4. U.S. Imports Associated With U.S. Parents and Their Foreign Affiliates, by Industry of U.S. Parent Majority-Owned Nonbank Foreign Affiliates of Nonbank U.S. Parents Selected Data III.A1. Selected Data for Foreign Affiliates in All Countries in Which Investment Was Reported III.A2. Selected Data for Foreign Affiliates and U.S. Parents in All Industries Balance Sheet III.B1-2. Balance Sheet of Affiliates, Country by Account III.B3-4. Balance Sheet of Affiliates, Industry by Account III.B5. Total Assets of Affiliates, Country by Industry III.B6. Total Assets of Affiliates, Industry by Country III.B7. Net Property, Plant, and Equipment of Affiliates, Country by Industry III.B13-14. Balance Sheet of Affiliates, Industry of U.S. Parent by Account III.B15. Total Assets of Affiliates, Industry of U.S. Parent by Country External Financial Position III.C1. External Financial Position of Affiliates, Selected Industry and Transactor by Account Income Statement III.E1. Income Statement of Affiliates, Country by Account III.E2. Income Statement of Affiliates, Industry by Account III.E3. Sales by Affiliates, Country by Industry III.E4. Sales by Affiliates, Industry by Country III.E5. Foreign Income Taxes of Affiliates, Country by Industry III.E6. Net Income of Affiliates, Country by Industry III.E7. Net Income of Affiliates, Industry by Country III.E8. Income Statement of Affiliates, Industry of U.S. Parent by Account III.E9. Sales by Affiliates, Industry of U.S. Parent by Country Page 8 of 16 Sales III.F1. Sales by Affiliates, Selected Area and Industry of Affiliate and Type of Sale by Destination and Transactor III.F2. Sales by Affiliates, Country of Affiliate by Destination III.F3. Sales by Affiliates, Industry of Affiliate by Destination III.F4. Sales by Affiliates to the United States, Country of Affiliate by Industry of Affiliate III.F7. Local Sales by Affiliates, Country of Affiliate by Industry of Affiliate III.F8. Sales by Affiliates to "Other" Foreign Countries, Country of Affiliate by Industry of Affiliate III.F9. Sales by Affiliates, Industry of U.S. Parent by Destination III.F13. Sales of Goods by Affiliates, Country of Affiliate by Destination III.F14. Sales of Goods by Affiliates, Industry of Affiliate by Destination III.F16. Sales of Goods by Affiliates, Industry of Affiliate by Country of Affiliate III.F17. Sales of Services by Affiliates, Country of Affiliate by Destination III.F18. Sales of Services by Affiliates, Industry of Affiliate by Destination III.F20. Sales of Services by Affiliates, Industry of Affiliate by Country of Affiliate III.F22. Sales of Services by Affiliates to Foreigners, Industry of Affiliate by Country of Affiliate III.F24. Sales by Affiliates, Industry of Affiliate by Industry of Sales Employment and Employee Compensation III.G3. Employment of Affiliates, Country by Industry III.G4. Employment of Affiliates, Industry by Country III.G6. Employee Compensation of Affiliates, Country by Industry III.G7. Employee Compensation of Affiliates, Industry by Country III.G11. Employment of Affiliates, Industry of U.S. Parent by Country U.S. Merchandise Trade III.H1. U.S. Merchandise Trade With Affiliates, by Country of Affiliate III.H2. U.S. Merchandise Trade With Affiliates, by Industry of Affiliate III.H5. U.S. Exports Shipped to Affiliates, Country of Affiliate by Industry of Affiliate III.H9. U.S. Exports Shipped to Affiliates by U.S. Parents, Country of Affiliate by Industry of Affiliate III.H22. U.S. Imports Shipped by Affiliates, Country of Affiliate by Industry of Affiliate III.H26. U.S. Imports Shipped by Affiliates to U.S. Parents, Country of Affiliate by Industry of Affiliate Page 9 of 16 Research and Development III.I2-5. Expenditures for Research and Development Performed for Affiliates, by Industry of Affiliate and by Industry of Parent III.I3. Expenditures for Research and Development Performed for Affiliates, Country by Industry Page 10 of 16 General Notes to Tables - The estimates are on a fiscal year (FY) basis; an affiliate's or parent's fiscal year is defined as the financial reporting year that ended in that calendar year. Unless otherwise specified, all balances are as of the close of FY 1992. - Detail may not add to totals because of rounding. - An asterisk "(*)" indicates a value between -$500,000 and +$500,000, or fewer than 50 employees, as appropriate. - A "(D)" indicates that the data in the cell have been suppressed to avoid disclosure of data of individual companies. - A "U.S. parent company" is the person, resident in the United States, that owns or controls 10 percent or more of the voting securities of an incorporated foreign business enterprise or an equivalent interest in an unincorporated foreign business enterprise. "Person" is broadly defined to include any individual, branch, partnership, associated group, association, estate, trust, corporation or other organization (whether or not organized under the laws of any State), or any government entity. If incorporated, the U.S. parent is the fully consolidated U.S. enterprise consisting of (1) the U.S. corporation whose voting securities are not owned more than 50 percent by another U.S. corporation, and (2) proceeding down each ownership chain from that U.S. corporation, any U.S. corporation (including Foreign Sales Corporations located within the United States) whose voting securities are more than 50 percent owned by the U.S. corporation above it. A U.S. parent comprises the domestic (U.S.) operations of a U.S. multinational company. - A "foreign affiliate" is a foreign business enterprise in which there is U.S. direct investment, that is, in which a U.S. person owns or controls 10 percent of the voting securities or the equivalent. - A "majority-owned foreign affiliate" is a foreign affiliate in which the combined direct and indirect ownership interest of all U.S. parents exceeds 50 percent. - A "U.S. multinational company" (MNC) comprises the U.S. parent and all of its foreign affiliates. - A "nonbank" entity (MNC, parent, or affiliate) is one whose primary activity is not banking. Only nonbank entities are covered by this publication. - The designation "by country" in a table title indicates that data are disaggregated by country of foreign affiliate. - Unless otherwise specified, the designation "by industry" in a table title indicates that the data are disaggregated by industry of foreign affiliate. - For tables that do not show every individual country or industry, the individual countries or industries included in a country or industry group shown in the heading or stub may be ascertained by referring to table II.A1 or III.A1 (for countries) or table II.A2 or III.A2 (for industries). The industries listed in tables II.A2 and III.A2 are described in BEA's Guide to Industry and Foreign Trade Classifications for International Surveys. - The country category "international" consists of affiliates that have operations spanning more than one country and that are engaged in petroleum shipping, other water transportation, or oil and gas drilling. - "Eastern Europe" comprises Albania, Armenia, Azerbaijan, Belarus, Bulgaria, Czechoslovakia, Estonia, Georgia, Hungary, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Moldova, Poland, Romania, Russia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan. - The European Communities (12) comprises Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, and the United Kingdom. Page 11 of 16 - OPEC is the Organization of Petroleum Exporting Countries. Through yearend 1992, its members were Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. - The major industry classification "petroleum" includes all of the various three-digit BEA petroleum subindustries. All other major industries exclude these petroleum subindustries. For example, mining excludes crude petroleum (no refining) and gas; manufacturing excludes petroleum refining and coal products; retail trade excludes gasoline service stations; and wholesale trade excludes petroleum wholesale trade. - All footnotes follow the last table. Page 12 of 16 Footnotes to Tables Table II.K1: 1. Includes capitalized expenditures for land, timber, mineral and like rights owned, structures, machinery, equipment, special tools, and other depreciable property; construction in progress; and capitalized and expensed tangible and intangible exploration and development costs (but not the costs of other types of intangible assets) and land held for resale. 2. Measures expenditures for research and development performed for the parents' benefit either by the parents themselves or by others under contract. Excludes expenditures for research and development conducted by parents for others under contract. Table II.O1: 1. Sales of goods are defined as sales generated by activities characteristic of the following group of industries: Agriculture, except agricultural services; mining, except mining services; petroleum, except petroleum services; construction; manufacturing; and wholesale and retail trade. 2. Sales of services are defined as sales generated by activities characteristic of the following group of industries: The "services" division of the Standard Industrial Classification (and the International Surveys Industry Classification) system; petroleum services; finance, insurance, and real estate; agricultural services; mining services; transportation; communications; and public utilities. 3. Consists of investment income that is included in sales (or gross operating revenues) in the income statement. In finance and insurance, parents generally include investment income in sales because it is generated by a primary activity of the company. In most other industries, parents generally consider investment income an incidental revenue source and include it in the income statement in a separate "other income" category; in such cases, investment income is not included in parents' sales or in this column. Table II.O2: 1. For industry classification, each U.S. parent was required to disaggregate its sales by three-digit International Surveys Industry code; the U.S. parent was then classified in the industry in which its sales were largest. When sales are disaggregated by industry of U.S. parent, total sales of a given U.S. parent are shown in the single industry in which the parent was classified; when disaggregated by industry of sales, they are distributed among all the industries in which the U.S. parent reported sales--i.e., sales associated with each industry of sales are shown in that industry regardless of the U.S. parent's industry of classification. 2. In the breakdown of U.S. parents' sales by industry of sales, only the eight largest sales categories had to be specified. If a given U.S. parent had sales in more than eight industries, the distribution of its sales in the specified industries would have covered less than 100 percent of its total sales. Sales in all unspecified industries combined are shown in this column. Page 13 of 16 Tables II.Q1 and II.Q4: 1. Applies only to U.S. parent companies that are themselves U.S. affiliates of foreign companies. The foreign parent group consists of (1) the foreign parent of a U.S. parent, (2) any foreign person, proceeding up the foreign parent's ownership chain, that owns more than 50 percent of the person below it, and (3) any foreign person, proceeding down the ownership chain(s) of each of these members, that is owned more than 50 percent by the person above it. 2. Does not equal column 4, primarily because column 10 includes U.S. merchandise trade of U.S. parents with all affiliates, not just with affiliates that are majority-owned. In addition, trade between parents and majrity-owned affiliates as reported on parents' forms (column 10) and affiliates' forms (column 4) may differ, due to differences in timing and valuation. Finally, trade between parents and their majority-owned affiliates that were exempt from being reported on affiliates forms is included, in the aggregate, in column 10, but may differ from BEA estimates of trade with these affiliates included in column 4. Tables III.B1-2, III.B3-4, and III.B13-14: 1. Comparable to the sum of columns 3, 4, and 8 of table III.B1 in the 1989 benchmark survey publication. 2. Comparable to the sum of columns 13 and 14 of table III.B1 in the 1989 benchmark survey publication. Table III.C1: 1. This item includes total owners' equity of those unincorporated affiliates for which detail on equity by type could not be provided. For these affiliates, cumulative retained earnings--which are an internal, not an external, source of funds--and translation adjustmenst were not reported separately and could not be excluded. 2. For all industries combined and for each of the selected industries shown, data in column 2 of this line--position with all transactors combined--equals column 11 of table III.B3-4. Tables III.E1, III.E2, and III.E8: 1. Consists of gains (losses), net of income tax effects, resulting from (1) the sale, disposition, or revaluation of assets; (2) the remeasurement of the foreign affiliates' assets and liabilities denominated in foreign currencies other than the affiliate's functional currency, to reflect changes in exchange rates during the period; (3) transaction gains (losses) taken to income in accordance with Financial Accounting Standards Board Statement No. 52 (FASB 52); and (4) all other realized and unrealized gains (losses), net of income tax effects, that under U.S. generally accepted accounting principles (GAAP) are to be included in income. 2. Consists of unrealized gains (losses), net of income tax effects, that under GAAP are not included in the determination of net income. Table III.F1: 1. Includes sales to the U.S. parent and its foreign affiliates; equals the sum of columns 5 and 8. 2. Sales charged by an affiliate to persons in the country where the affiliate is located. 3. "Other" foreign countries are foreign countries other than the country where the affiliate is located. 4. See footnote 1 to table II.O1. Page 14 of 16 5. See footnote 2 to table II.O1. 6. Consists of investment income that is included in sales (or gross operating revenues) in the income statement. In finance and insurance, affiliates generally include investment income in sales because it is generated by a primary activity of the company. In most other industries, affiliates generally consider investment income an incidental revenue source and include it in the income statement in a separate "other income" category; in such cases, investment income is not included in affiliates' sales or in this line. Tables III.F2 and III.F3: 1. See footnote 1 to table III.F1. 2. See footnote 2 to table III.F1. 3. See footnote 3 to table III.F1. Table III.F7: 1. See footnote 2 to table III.F1. Table III.F8: 1. See footnote 3 to table III.F1. Table III.F9: 1. See footnote 1 to table III.F1. 2. See footnote 2 to table III.F1. 3. See footnote 3 to table III.F1. Tables III.F13 and III.F14: 1. See footnote 1 to table II.O1. 2. See footnote 1 to table III.F1. 3. See footnote 2 to table III.F1. 4. See footnote 3 to table III.F1. Table III.F16: 1. See footnote 1 to table II.O1. Tables III.F17 and III.F18: 1. See footnote 2 to table II.O1. 2. See footnote 1 to table III.F1. 3. See footnote 2 to table III.F1. 4. See footnote 3 to table III.F1. Tables III.F20 and III.F22: 1. See footnote 2 to table II.O1. Table III.F24: 1. For industry classification, each foreign affiliate was required to disaggregate its sales by three-digit International Surveys Industry code; the affiliate was then classified in the industry in which its sales were largest. When sales are disaggregated by industry of affiliate, total sales of a given affiliate are shown in the single industry in which the affiliate was classified; when disaggregated by industry of sales, they are distributed among all the industries in which the affiliate reported sales--i.e., sales associated with each industry of sales are shown in that industry regardless of the affiliate's industry of classification. 2. In the breakdown of foreign affiliates' sales by industry of sales, only the five largest sales categories had to be specified. If an affiliate had sales in more than five industries, the distribution of its sales in the specified industries would have covered less than 100 percent of its total sales. Sales in all unspecified industries combined are shown in this column. Page 15 of 16 Ordering Publications and Diskettes on U.S. Direct Investment Abroad Information on how to order additional BEA data on the operations of U.S. parent companies and their foreign affiliates is given below. Estimates that are comparable with those presented in this publication are available for 1977 and for 1982-91, and for 1993, but the level of detail in which the estimates are presented, and the number of data items covered, differ: The publications for 1977, 1982, and 1989 (benchmark years) present the estimates in greater detail and cover many more data items than those in publications for non-benchmark years. The estimates are available in publications and--for some years--on computer tape or diskette. The publications for 1977 and 1982 are available from the U.S. Department of Commerce, National Technical Information Service (NTIS). The publications for 1983-85 and for 1990 are available from BEA, the publications for 1986-88 are available form NTIS, and the publications for 1989 and for 1991-93 are available from the Superintendent of Documents, U.S. Government Printing Office (GPO). Diskettes of the 1983-93 data are available from BEA. To place an order, use the BEA, GPO, and NTIS order forms provided on the following pages. Orders should specify the accession or stock number, the title of the publication or the year of the estimates (for computer tapes or diskettes), and the price of the item(s) being ordered. Files on diskettes are copied, using DOS, onto 3 1/2-inch diameter high density diskettes. Documentation is included. Payment must accompany all orders. Publication Computer Media Year Title Source Accession or Price Type BEA Accession Price Stock Number Number 1977 U.S. Direct Investment Abroad, NTIS PB82-130634 --- --- --- paper copy $59.00 microfiche $9.00 1982 U.S. Direct Investment Abroad, NTIS PB86-169117 Tape 50-86-00-403 $100.00 Benchmark Survey Data paper copy $50.00 microfiche $9.00 U.S. Direct Investment Abroad: Operations of U.S. Parent Companies and Their Foreign Affiliates 1983 Revised 1983 Estimates BEA 50-86-10-103 $5.00 Disk 50-86-40-403 $20.00 1984 Revised 1984 Estimates BEA 50-87-10-103 $5.00 Disk 50-87-40-409 $20.00 1985 Revised 1985 Estimates BEA 50-88-10-103 $5.00 Disk 50-88-40-403 $20.00 1986 Revised 1986 Estimates NTIS PB90-114125 Disk 50-89-40-403 $20.00 paper copy $19.00 microfiche $9.00 1987 Revised 1987 Estimates NTIS PB90-258898 Disk 50-90-40-403 $20.00 paper copy $19.00 microfiche $9.00 1988 Revised 1988 Estimates NTIS PB92-101583 Disk 50-91-40-403 $20.00 paper copy $19.00 microfiche $9.00 1989 U.S. Direct Investment Abroad, GPO 003-010-00234-4 $25.00 Disk 50-92-40-403 $20.00 Benchmark Survey Data, Final Results Page 16 of 16 U.S. Direct Investment Abroad: Operations of U.S. Parent Companies and Their Foreign Affiliates 1990 Revised 1990 Estimates BEA 50-93-10-103 $6.50 Disk 50-93-40-403 $20.00 1991 Revised 1991 Estimates GPO 003-010-00247-6 $6.50 Disk 50-94-40-403 $20.00 1992 Revised 1992 Estimates GPO 003-010-00253-1 $6.50 Disk 50-95-40-403 $20.00 1993 Preliminary 1993 Estimates GPO 003-010-00254-9 $6.50 Disk 50-95-40-404 $20.00 1. Call GPO at (202) 783-3238 for price and stock number.